America’s Likelihood of Pulling an Iceland. With every penny borrowed the likelihood of America doing the same as Iceland becomes increasing better. Over 15 trillion dollars in debt. How long is it going to take to pay that back? Think about it. Our government CAN’T EVEN SHOW THE FISCAL RESPONSIBILITY TO BREAK EVEN and at some point they’ll have to budget BELOW REVENUE? If we ARE going to have to pull an Iceland, why put off the inevitable. Think about it. The world economy is in the crapper already. The banks are already failing. If you let it drop now you’re in a situation that best mitigates the damage. We’ve already had the Nation’s credit rating downgraded. I would much prefer FISCAL RESPONSIBILITY but it’s becoming increasingly obvious THAT isn’t going to happen with the current United States political system.
- Ben Bernanke: I've been looking at the economic data and sentiment polls and their prediction on the 2012 Presidential result. There are three possible outcomes. First outcome: Obama reelected, "Not likely, but possible."
- President Obama: Well, not good but better than before, "Executed for treason."
- Ben Bernanke: Second outcome: Romney reelected, "Not likely, but possible."
- President Obama: Not likely? What's the third option? Ron Paul!? He isn't "Likely." He's admitted that himself!
- Ben Bernanke: Third outcome: America pulls 'an Iceland', "Most likely, highly possible."